Cheque Dishonour Legal Recourse
Summary
In India, Section 138 of the Negotiable Instruments Act allows Mr. Y to file a case against both the company and Mr. X, the authorized signatory, for cheque dishonour. A legal notice must be sent within 30 days of the cheque being dishonoured. If payment is not made within the notice period, Mr. Y must file a complaint within the next 30 days.Full Conversation
mr x accepts rtgs from mr. y in sattlement mr. x gives cheques of his ltd. co ac signed by him as authorised signatory. On dishonour of this cheque can y sue mr. x under section *?
To provide accurate information, could you please tell me your location? This will help me understand the specific legal provisions in your area.
Vadodara, gujarat, india
In India, Section * of the Negotiable Instruments Act deals with cheque dishonour. Here are key points:
- Mr. Y can file a case under Section * against the company, as well as Mr. X if he's an authorized signatory.
- Legal notice must be sent to Mr. X and the company within 30 days of cheque dishonour.
- Mr. Y must file a complaint within 30 days after the notice period ends without payment.
Is there anything else you need help with regarding this issue?